OGE Energy price target raised to $48 from $46 at BofA

BofA raised the firm’s price target on OGE Energy (OGE) to $48 from $46 and keeps a Neutral rating on the shares. The firm continues to believe OGE’s strong track record of execution and significant load growth opportunities justify a premium valuation, which is reasonably reflected in the stock’s current 10% premium to the regulated SMID-cap electric utility peer group. Execution on the $6.25B five-year plan and generation/transmission buildout is top of mind for investors, the analyst tells investors in a research note.